May 24 (Bloomberg) -- Spot gasoline in Los Angeles declined
against futures for a third day to the lowest level in more than
six weeks as refineries restored production after repairs.

California-blend gasoline, or Carbob, in Los Angeles
slipped 1.5 cents to a premium of 3 cents a gallon versus
futures traded on the New York Mercantile Exchange at 4:19 p.m.,
the lowest level since April 8, according to data compiled by
Bloomberg. Prompt-delivery fell 0.5 cent to $2.8581 a gallon.

Retail gasoline in the state slipped 0.6 cent to $4.044 a
gallon, Heathrow, Florida-based AAA, the nation’s largest
motoring organization, said today on its website.

Carbob stockpiles surged to a one-month high in the week
ended May 17, jumping 10 percent to 4.93 million barrels, the
state Energy Commission said May 22.

BP Plc’s 266,000-barrel-a-day Carson refinery near Los
Angeles finished repairs on the No. 4 crude unit over the
weekend and the equipment is back to normal operations, a person
familiar with operations there said today.

Exxon Mobil Corp.’s 150,000-barrel-a-day Torrance refinery
is scheduled to finish a maintenance turnaround next week,
according to a person with knowledge of the timeline.

Tanker Arrival

The tanker Stolt Perseverance, traveling north of Hawaii,
may be carrying fuel to Long Beach, California. IHS Inc. data
show the oil-products vessel, scheduled to arrive in Long Beach
on May 28, last stopped in Ulsan, South Korea, which was the
third-largest gasoline exporter to the West Coast last year.

The U.S. West imported 1.25 million barrels of gasoline in
2012, less than any other coastal region of the U.S., data
compiled by the Energy Information Administration show. Canada
and Spain were the first- and second-largest gasoline exporters
to the West last year, respectively, said the EIA, the Energy
Department’s statistical arm.

Carbob gasoline in San Francisco weakened 3.5 cents against
futures to a premium of 6 cents a gallon versus futures, the
lowest level since April 8. The spread between San Francisco and
Los Angeles Carbob was unchanged at 5 cents a gallon.

California-blend, or CARB, diesel in San Francisco, which
rolled into June trading yesterday, was unchanged against ultra-low-sulfur diesel futures on the Nymex at a discount of 7.5
cents a gallon. CARB diesel in Los Angeles was steady at 6 cents
a gallon below futures, the lowest level since Dec. 10.

In Portland, Oregon, conventional, 84-octane gasoline
weakened 1.5 cents against futures to a premium of 14.5 cents a
gallon. The premium for low-sulfur diesel there was unchanged at
9.5 cents a gallon above ULSD futures.

Portland gasoline’s premium to Los Angeles Carbob held at
11.5 cents a gallon.

The 3-2-1 crack spread of Alaska North Slope crude, Carbob
in Los Angeles and CARB diesel in Los Angeles widened for the
first time in four days, gaining 0.5 cent to $15.56 a barrel at
4:02 p.m. New York time. The spread, a rough measure of refining
margins, is down 47 percent from this year’s high of $29.09 on
Feb. 5.